The Time Warner CEO benefited from a new contract that took effect last year and the board’s conclusion that he “has been highly effective and successful” in a year when the share price appreciated 46%. Jeff Bewkes‘ 2013 package included: $2M salary, $8.2M stock awards, $7.8M option awards, $14.4M non equity incentives, and $126,889 in other compensation. The “other” category includes $55,191 for Bewkes’ personal use of the company plane as well as payments for car and driver and reimbursement for financial advisory services. The Time Warner board treats Bewkes like a rock star in comparison with other execs: His compensation accounts for 53% of the total paid to the top five officers, up from 48% last year. He made 5.5 times the median for his four top lieutenants, up from 4.5 times last year. Corporate governance watchdogs often become concerned that a CEO’s pay is out-of-whack when he or she makes more than three times the median for the others. Time Warner will hold its annual meeting in Burbank on June 13.
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